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Losses May Spur Shanxi Coal Recast


Mergers or restructuring will dominate the coal industry in the northern province of Shanxi after three major mining groups reported first-quarter losses, China Daily reported. Out of the seven leading companies in the sector, Datong Coal Mine Group, Lu’an Group and Shanxi Coking Coal Group have struggled to balance their books, despite the rebound in coal prices. Industry insiders now expect a series of mergers or restructuring to solve debt problems that are “extremely high” in these key players.

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